Monday, September 29, 2008

Let there be no mistake: the fundamentals of our poetry are sound. The problem is not poetry but poems. The crisis has been precipitated by the escalation of poetry debt—poems that circulate in the market at an economic loss due to their difficulty, incompetence, or irrelevance.

Illiquid poetry assets are choking off the flow of imagination that is so vital to our literature. When the literary system works as it should, poetry and poetry assets flow to and from readers and writers to create a productive part of the cultural field. As toxic poetry assets block the system, the poisoning of literary markets has the potential to damage our cultural institutions irreparably.